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Sable Offshore ( (SOC) ) has shared an update.
On March 29, 2026, Sable Offshore Corp. resumed oil sales from its Santa Ynez Unit via the Santa Ynez Pipeline System, which was filled from Las Flores Canyon to Pentland Station at rates above 50,000 barrels of oil per day. The company reported that Platform Harmony was producing about 22,000 gross barrels per day, regulators had completed the final pre‑restart inspection of Platform Heritage ahead of its production restart at over 30,000 gross barrels per day, and that Platform Hondo was scheduled to return online by the end of the second quarter of 2026 at more than 10,000 barrels per day, marking a significant step in restoring offshore output and reinforcing Sable’s role in supplying domestic crude to a major U.S. refinery.
The resumption of Santa Ynez oil sales and phased restart of platforms Harmony, Heritage, and Hondo represent a substantial operational ramp‑up for Sable Offshore Corp. in 2026. These moves enhance the company’s production base in offshore California, underscore its regulatory progress with federal safety authorities, and strengthen its positioning as a source of U.S. crude for American consumers and the United States military.
The most recent analyst rating on (SOC) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
Spark’s Take on SOC Stock
According to Spark, TipRanks’ AI Analyst, SOC is a Neutral.
The score is held down primarily by very weak financial performance (no revenue, large losses, and worsening cash burn), which outweighs positives. Technicals show strong near-term momentum but with overbought readings. Corporate events provide a meaningful positive catalyst via regulatory approvals and pipeline restart progress, while valuation is not supportive given negative earnings and no dividend yield provided.
To see Spark’s full report on SOC stock, click here.
More about Sable Offshore
Sable Offshore Corp. is an independent oil and gas producer headquartered in Houston, Texas, focused on developing the Santa Ynez Unit in federal waters offshore California. The company emphasizes responsible and safe operations in the California offshore energy sector, supplying crude to domestic refiners and end users, including U.S. consumers and military demand.
Average Trading Volume: 7,293,618
Technical Sentiment Signal: Buy
Current Market Cap: $2.72B
See more insights into SOC stock on TipRanks’ Stock Analysis page.